Registered Number 03379669

CONTINENTAL SHELF 128 LIMITED

Abbreviated Accounts

30 June 2016

CONTINENTAL SHELF 128 LIMITED Registered Number 03379669

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 3,990,884 4,403,734
Tangible assets 3 4,860,000 4,919,000
Investments 4 662,754 662,754
9,513,638 9,985,488
Current assets
Cash at bank and in hand 34,505 24,913
34,505 24,913
Prepayments and accrued income 150,841 99,515
Creditors: amounts falling due within one year 5 (682,449) (674,509)
Net current assets (liabilities) (497,103) (550,081)
Total assets less current liabilities 9,016,535 9,435,407
Creditors: amounts falling due after more than one year 5 (7,724,377) (7,886,600)
Accruals and deferred income (135,570) (134,475)
Total net assets (liabilities) 1,156,588 1,414,332
Capital and reserves
Called up share capital 6 5,000 5,000
Revaluation reserve 3,015,481 3,015,481
Profit and loss account (1,863,893) (1,606,149)
Shareholders' funds 1,156,588 1,414,332
  • For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 19 June 2017

And signed on their behalf by:
Kashif Ahmed, Director

CONTINENTAL SHELF 128 LIMITED Registered Number 03379669

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover represents the total amount receivable from the provision of Royalty charges and consultancy services excluding value added tax.

Tangible assets depreciation policy
Tangible assets are stated at cost. The depreciation is provided to write of their cost less any residual value over their estimated useful lives as follows.
Freehold land and buildings 2% of cost on straight line basis

Intangible assets amortisation policy
Intangible assets are depreciated over 20 years at a flat rate.

2Intangible fixed assets
£
Cost
At 1 July 2015 8,257,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 8,257,000
Amortisation
At 1 July 2015 3,853,266
Charge for the year 412,850
On disposals -
At 30 June 2016 4,266,116
Net book values
At 30 June 2016 3,990,884
At 30 June 2015 4,403,734
3Tangible fixed assets
£
Cost
At 1 July 2015 5,450,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 5,450,000
Depreciation
At 1 July 2015 531,000
Charge for the year 59,000
On disposals -
At 30 June 2016 590,000
Net book values
At 30 June 2016 4,860,000
At 30 June 2015 4,919,000

4Fixed assets Investments
Company has made long term investments of £662,754.

5Creditors
2016
£		 2015
£
Secured Debts 2,240,537 2,449,714
Instalment debts due after 5 years 303,332 303,332
Non-instalment debts due after 5 years 19,367,205 2,146,382
6Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
5,000 Ordinary shares of £1 each 5,000 5,000